Golden Valley Bancshares : Income Statement YOY 9-30-2021

Income Statement Compare

Consolidated (Unaudited)

	YTD	YTD
	Actual	Actual
	Sep 2021	Sep 2020	$ Change	% Change
Interest Income
Interest on Loans	7,845,304	7,650,666	194,638	2.5
Fees on Loans	1,976,262	475,501	1,500,761	315.6
Interest on federal funds sold	29,116	13,714	15,402	112.3
Interest on deposits with banks	223,615	470,196	(246,581)	(52.4)
Investment Securities - Taxable	1,558,207	1,780,604	(222,397)	(12.5)
Investment Securities - Tax-exempt	63,835	41,464	22,371	54.0
Total Interest Income	11,696,339	10,432,144	1,264,195	12.1
Interest Expense
Interest bearing demand deposits	32,411	55,083	(22,672)	(41.2)
Savings and Money Market Deposits	219,163	335,813	(116,650)	(34.7)
Time Deposits - Retail	98,289	212,132	(113,843)	(53.7)
Total Interest Expense on Deposits	349,863	603,028	(253,166)	(42.0)
FHLB Advances and other borrowings	8,864	157,008	(148,143)	(94.4)
Total Interest Expense	358,727	760,036	(401,309)	(52.8)
Net Interest Income	11,337,613	9,672,108	1,665,504	17.2
Provision for loan losses	583,168	851,691	(268,523)	(31.5)
Net In. Inc. After Prov. for Loan Losses	10,754,445	8,820,417	1,934,028	21.9
Non Interest Income
Service charges and fees	134,412	119,465	14,947	12.5
Securities gains (losses), net	0	773,421	(773,421)	(100.0)
Other noninterest income	966,084	777,418	188,667	24.3
Total Non Interest Income	1,100,497	1,670,304	(569,807)	(34.1)
Non Interest Expense
Salaries and employee benefits	3,432,994	3,555,632	(122,638)	(3.4)
Occupancy	613,245	603,436	9,809	1.6
Other noninterest expense	1,980,138	1,878,377	101,761	5.4
Total Non Interest Expense	6,026,377	6,037,446	(11,068)	(0.2)
Income Before Taxes	5,828,564	4,453,275	1,375,288	30.9
Income taxes	1,757,000	1,328,000	429,000	32.3
Net Income	4,071,564	3,125,275	946,288	30.3